OPEC on Thursday trimmed its forecast for global growth in oil demand in 2008, the latest sign that record-high oil prices are putting the brakes on consumption.

Oil rose on Thursday, boosted partly by weakness in the U.S. dollar after strong economic growth data from France and Germany pushed the euro higher.

Recent economic news hasn’t exactly been great, but it is starting to look like the economy has stabilized.

Rising raw material prices are likely to be passed on and will take another chunk out of consumers’ wallets, further heaping inflationary pressures on to the global economy, ArcelorMittal CFO Aditya Mittal told CNBC Wednesday.

Congress voted overwhelmingly  to stop adding oil to the Strategic Petroleum  Reserve until crude prices fall below $75 a barrel.

U.S. light, sweet crude for June delivery fell $1.58 to settle at $124.22 a barrel Wednesday on the New York Mercantile Exchange.

Mom-and-pop service stations are running into a problem as gasoline marches toward $4 a gallon: Thousands of old-fashioned pumps can't register more than $3.99 on their spinning mechanical dials.

World oil demand will rise less than expected in 2008 because of record prices and slower growth in the United States and elsewhere, the International Energy Agency said on Tuesday.

Oil prices didn't set a Nymex closing record Tuesday, but they came very close.

It's been a wild ride for both the dollar and oil.  When it comes to stocks, here's what the experts have to say about what they like now:

Oil slipped from a record high over $126 a barrel Monday as a dip in crude oil imports into No. 2 consumer China stirred concerns high prices were eating into demand.

Even as oil prices ascended to new highs of more than $124 a barrel this week, many oil and gas industry executives say they expect the price to fall significantly by year's end, a new survey shows.

OPEC is not planning to hold an emergency meeting, Venezuela's oil minister said on Thursday, even as oil prices reached a record high of $124 per barrel.

Oil jumped to a record above $126 a barrel Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying.

U.S. crude oil futures ended at a record high on Thursday, fueled by yet another rally in
heating oil futures, which hit a new peak.